KUWAIT CITY, Nov 10: According to informed sources, Kuwait Oil Company (KOC) is racing against time to implement the directives of the Kuwait Petroleum Corporation (KPC) to increase production capacity in all its fields by 2025. They explained that the CEO of KOC Ahmad Al-Eidan recently held a meeting with the company’s drilling and exploration leaders to ramp up efforts for achieving the highest possible levels of crude oil production in various fields. This is particularly important as KOC is not satisfied with just discovering light oil and gas in the Nkhatha marine field, which it had announced in July. The field is estimated to contain about 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, equivalent to approximately 3.2 billion barrels of oil.

KOC is deploying the latest technologies to expand drilling operations and enhance exploration efforts across all its fields. KOC is working on restoring the Burgan field to its full production capacity, similar to its past output. In the past, the Burgan field produced about 70 percent of KOC’s total output, but this has decreased to around 60 percent due to factors associated with aging. As one of the largest oil fields in the world, Burgan field’s production has been impacted by these factors, though the company is confident that the use of digital technology can help bring production levels back to previous highs. KOC is intensifying efforts to increase production from its light-production fields. For example, the company aims to boost output from the Umm Al-Naqqa field to 30,000 barrels per day by 2026. This goal is achievable, especially since new exploration technologies have enabled the company to raise production from 15,000 barrels to over 22,000 barrels per day.

In addition, KOC is focused on increasing production from the Qadir, Sabriya, and Rawdatain fields. The company is following a strategic plan that emphasizes both quality and higher production while also reducing operational costs. The sources revealed that KOC took advantage of the voluntary reduction in Kuwait’s oil production under OPEC+ agreements to carry out periodic maintenance of its oil facilities ahead of schedule. This proactive approach ensures that the company is fully prepared for Kuwait’s return to full oil production without any reductions. KPC has called on oil companies involved in domestic oil exploration and production, such as KOC and the Kuwait Gulf Oil Company, to intensify efforts to increase crude oil production capacity to approximately 3.5 million barrels per day.

As part of its current strategy, KPC is preparing to submit a proposal to increase Kuwait’s share within OPEC+ in 2025. It is also working towards its long-term goal of boosting the country’s oil production capacity to four million barrels per day by 2035. The sources said Kuwait’s adherence to the voluntary production cuts, in line with OPEC+ agreements, will strengthen its case for an increase in its production quota. Moreover, new oil discoveries announced by KOC are a key part of these efforts to enhance Kuwait’s capacity to produce crude oil.

By Najeh Bilal

Al-Seyassah/Arab Times Staff